PROCEPT BioRobotics Corporation $PRCT Shares Bought by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in PROCEPT BioRobotics by 88.6%, owning 542,987 shares valued at approximately $31.6 million.
• PROCEPT BioRobotics recently reported a negative EPS of $0.35, beating estimates and showing a revenue increase of 48.3% year-over-year.
• The company's stock has faced a decline of 5.1%, with an average price target of $73.22 from analysts, indicating a potential for growth despite recent setbacks.

Millennium Management LLC boosted its position in shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Free Report) by 88.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 542,987 shares of the company's stock after buying an additional 255,140 shares during the period. Millennium Management LLC owned 0.98% of PROCEPT BioRobotics worth $31,634,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PRCT. Bank of America Corp DE increased its position in PROCEPT BioRobotics by 6.3% during the fourth quarter. Bank of America Corp DE now owns 623,408 shares of the company's stock worth $50,197,000 after buying an additional 36,944 shares during the period. Deutsche Bank AG increased its holdings in shares of PROCEPT BioRobotics by 54.6% in the fourth quarter. Deutsche Bank AG now owns 145,242 shares of the company's stock valued at $11,695,000 after purchasing an additional 51,289 shares during the period. Ensign Peak Advisors Inc increased its holdings in shares of PROCEPT BioRobotics by 1.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 14,165 shares of the company's stock valued at $1,141,000 after purchasing an additional 150 shares during the period. Graham Capital Management L.P. acquired a new position in shares of PROCEPT BioRobotics in the fourth quarter valued at approximately $230,000. Finally, Occudo Quantitative Strategies LP increased its holdings in shares of PROCEPT BioRobotics by 145.7% in the fourth quarter. Occudo Quantitative Strategies LP now owns 8,671 shares of the company's stock valued at $698,000 after purchasing an additional 5,142 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.

PROCEPT BioRobotics Stock Down 5.1%

PRCT opened at $37.50 on Thursday. The business's fifty day moving average is $47.61 and its two-hundred day moving average is $54.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.86 and a current ratio of 9.21. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -24.19 and a beta of 1.03. PROCEPT BioRobotics Corporation has a one year low of $37.12 and a one year high of $103.81.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. PROCEPT BioRobotics had a negative return on equity of 23.73% and a negative net margin of 30.60%.The business had revenue of $79.18 million for the quarter, compared to the consensus estimate of $75.67 million. During the same period in the prior year, the business earned ($0.50) earnings per share. The business's revenue was up 48.3% on a year-over-year basis. Analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Stephens assumed coverage on PROCEPT BioRobotics in a research note on Wednesday, July 9th. They issued an "overweight" rating and a $70.00 price target on the stock. Wells Fargo & Company decreased their price target on PROCEPT BioRobotics from $75.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Morgan Stanley decreased their price target on PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Finally, Oppenheimer upgraded PROCEPT BioRobotics from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a research note on Tuesday, September 2nd. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.22.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).

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